SYRACUSE, N.Y. — The Genius NY program continues accepting applications for its fifth round through the end of March. As of Feb. 2nd, 50 firms have applied to participate, says Jeff Fuchsberg, director of Genius NY. “Applications have grown every year. Last year, we were a little bit over 400. I expect the turnout to […]
SYRACUSE, N.Y. — The Genius NY program continues accepting applications for its fifth round through the end of March.
As of Feb. 2nd, 50 firms have applied to participate, says Jeff Fuchsberg, director of Genius NY.
“Applications have grown every year. Last year, we were a little bit over 400. I expect the turnout to be even higher this year,” he adds.
The applications have come from firms in New York, across the U.S., and internationally as well. Fuchsberg says he’s also had informational calls with startups from various countries during the first month of the application period.
Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York. Empire State Development (ESD) describes Genius NY as “the world’s largest” business accelerator competition focused on unmanned systems.
Tech startups focused on unmanned systems, internet of things (IoT), big data, and robotics can apply. Subsets may include precision and remote sensing, data collection and analytics, guidance or communication systems, and sensors, “among other technological categories.”
“Genius NY’s fifth round will continue to grow the Unmanned Aerial Systems [UAS] industry in Central New York,” Eric Gertler, acting commissioner and president & CEO-designate of Empire State Development, said in a Jan. 5 news release. “This unique business accelerator competition is drawing forward-thinking entrepreneurial ideas and innovators to the region, as well as top companies ready to take advantage of the area’s unmatched UAS assets and infrastructure.”
Narrowing the field
Fuchsberg explains that judging for Genius NY happens in two rounds beginning in April. The first round focuses on all the firms that apply, which includes an external panel of 45 people who review the applications. Eventually, those judging will narrow the field down to a group of 20.
“It takes about two weeks to do background checks before we go ahead and announce who the semifinalists are,” says Fuchsberg. “So, we would be looking at a semifinalist announcement on May 4 ... our target date at the moment.”
Fuchsberg also notes that those involved in narrowing down the application field will be very busy during April.
Once the 20 semifinalists are chosen, Genius NY executive advisors will work to determine the five finalists. The process involves another round of applications, a video submission, and a video call with the judges.
“It takes about two weeks from that point to go from 20 to who the five finalists are, so we’ll be looking at an announcement on about May 19,” says Fuchsberg.
After the finalists are named, representatives from each firm will move into the Tech Garden in late May as Genius NY is planning for an in-person program this year.
“Every team must have two people in place in Central New York for the duration of the program year,” he adds.
The application process for the teams involved includes their plans for hiring in Central New York, which will be part of how they’re evaluated. Genius NY will also hold the teams to their hiring goals in order to claim their prize money, according to Fuchsberg.
The program will invest $3 million in the five finalist companies, including a grand prize of $1 million.
Genius NY is funded through the CNY Rising Upstate Revitalization Initiative, the region’s economic-development blueprint. The program also offers company stipends, resources, programming, and networking opportunities to assist innovative startups with the tools they need to take advantage of emerging opportunities.
Geopipe of New York City was named as the round four winner of the Genius NY $1 million grand prize in September 2020. Other round four winners that are now operating in Central New York include BotsAndUs from the United Kingdom; Droneseed from Seattle, Washington; Skyy Network from Australia; and Eget Liber of Syracuse.